Ibovespa futures rose as an advance in metals improved the outlook for raw-material exporters including iron-ore miner Vale SA.
Pulp producer Fibria Celulose SA may move as first-quarter revenue beat estimates. For-profit college operators including Kroton Educacional SA may be active after Brazil’s Education Ministry extended the deadline for students to renew loan contracts.
Ibovespa futures contracts due in June added 0.5 percent to 56,735 at 9:10 a.m. in Sao Paulo. The Bloomberg Base Metals Three-Month Price Commodity Index gained 1.2 percent as iron ore rallied 5.5 percent to $57.81 a ton.
“The price of metals, especially iron ore, has been rising strongly in the past few days and giving a lot of support to producers,” Hersz Ferman, an economist at brokerage firm Elite Corretora, said in a phone interview from Rio de Janeiro. “That’s favoring Brazilian miners and steelmakers. They have room to rise more because of this.”
Trading volume of equities in Sao Paulo was 9.38 billion reais ($3.15 billion) on Thursday, according to the exchange. That compares with a daily average of 6.84 billion reais this year.